Ann: Dividend Received of A$21 Million, page-23

GLOBAL MANGANESE WRAP: Low-grade manganese ore prices recover some losses while those for high-grade ore soften
Low-grade manganese ore prices reversed some recent losses over the past week on steady demand.
Low-grade manganese ore prices stage modest rebound High-grade manganese ore prices weaken slightly Chinese silico-manganese prices strengthen Indian, European alloy prices flatline SiMn prices edge lower in the United States Low-grade manganese ore prices clawed back some of the previous week’s losses on Friday October 19, amid steady demand in China. Fastmarkets’ 37% manganese ore index, cif China rose 7 cents week on week to $6.71 per dry metric tonne unit (dmtu). Fastmarkets' 37% manganese ore index, fob Port Elizabeth edged up 3 cents to $5.98 per dmtu from $5.95 per dmtu the previous week. Fastmarkets' 44% manganese ore index, cif Tianjin inched down 2 cents to $7.16 per dry metric tonne (dmtu) from a week earlier. Most market sources described the market as relatively balanced, with little likelihood of significant strengthening or weakening of prices in the short term. End-user demand was stable due to new silico-manganese smelters.

FeSi prices holding up well, some deals done in Europe at 1,400 Euro ( AUD$2274/tonne)

GLOBAL FERRO-SILICON WRAP: China market falls on weak demand; Europe extends steady trend
Weak demand from domestic and export markets pushed the Chinese ferro-silicon market down, while the European market for standard-grade ferro-silicon was unchanged for the fourth consecutive week on Friday October 19, with suppliers holding offer prices despite slow consumer demand.
European market cements stability Chinese domestic demand weak, export market follows US market slips on soft spot demand European market rock steady Fastmarkets’ weekly price assessment for ferro-silicon, lumpy, 75% Si, for major European destinations, was at €1,300-1,350 ($1,497-1,554) per tonne on October 19, unchanged for the fourth consecutive week. The spot market is maintaining stability within the current range while suppliers hold their offer prices despite relatively slow consumer spot demand. The spot market hit a new annual low five weeks ago after consumers settled some deals for quarterly deliveries in December at around €1,400 per tonne delivered. The European ferro-silicon spot market was last at its current spot level in November 2017. One producer reported a deal for around 200 tonnes of standard grade at around €1,415 per tonne to southern Europe, although that sale was an isolated trade due to the content mix and timescale and location